If the article https://forexcrypt.com/new-uk-forex-scam-uncovered-prophetfx/ wasn’t enough – this is.
Truth always finds a way and here it is.
This is irrefutable evidence on how they are gaming myfxbook, false advertising, lying and committing serious fraud.
These are not allegations/accusations – this is solid fact.
All of this information has been copied, saved and stored offline away from harm, away from me and for the authorities to view/use.
I know that Prophetfx will delete this and any record/evidence as soon as this post goes up.
Further, their backers/associates have been asking for my address to cause me harm – I have evidence of it.
You will have read in the main article that I have a great deal of experience in MT4 and using Myfxbook.
Well, I knew that Myfxbook is a notoriously poor product.
I also knew that Metatrader 4 can be gamed – either via the MT4 broker server scam or by people using demo accounts.
In this case ProphetFX are using a real account. Edward Elford had locked down the account so the only data I had to use was the Trade Summary.
It wasn’t enough data.
Here is the Edward Elford of ProphetFX myfxbook account;
This took some extra investigation to work out how and what ProphetFX are doing to achieve these huge gains…
Luckily, in their stupidity – they left one of their accounts open.
Here I am able to show you what and how ProphetFX are false advertising, lying & committing serious fraud.
If you look at the TradeHuntFX Website Myfxbook page – look what you see…
This is from the https://www.tradehuntfxmentorship.com/tradecopier-autotrading/ page…
What is the ‘TradeCopier’?
The TradeCopier facility is an empirically proven and exhaustively tested system that mirrors Forex trading activity from our master account and places trades onto your account. This enables consistent and incremental account growth to all connected clients.
How does it work?
The system carefully analyses market movement and volumes within any given pair we are trading. If price moves against us in one direction, the system will begin a process to ‘hedge’ itself out of that trade and close with a profit. The exact system methodology is of course confidential, but the full results from the TradeCopier past activity are available for scrutiny.
How much profit can I expect each month or average over a year?
Our month on month target growth is circa 15%-20%, some months may be less, and others more. Forex accounts do not grow by an identical amount each month but our past results do demonstrate consistent growth over a rolling period, which is our core aim. All TradeCopier clients see the exact same % increase, no matter if you have a £1,000 account, or £100,000.
How much does it cost?
There is a small monthly fixed charge and then a profits based % commission charge. However for THFX members we have removed the charge and the commission charge is reduced to 30%. Non members are charged £10 a month with a 45% commission charge. Billing is completed at the end of each calendar month. You then have 7 days in which to settle your bill. Failure to settle your account will result in it being disconnected.
How much can I lose?
The maximum drawdown that has been recorded is 7.8%, but this does not mean that higher drawdown will not happen, this is not something to be concerned by. This is just how the system operates, in fact it soon recovered after this. The market is very unpredictable at times, we have carried out extensive amounts of back testing and have never lost an account to drawdown/market conditions. Please refer to our full risk disclaimer.
When can I withdraw the profits?
You are able to withdraw at any stage you wish, however there are times when it is not advisable to withdraw such as when there are live trades open. All we ask is that if you wish to withdraw it’s always best to speak to Edward first. Please ensure you are able to make the due commissions payment based on the profits so far. Otherwise you will be disconnected.
Who can handle my funds?
Funds are held in your own IC markets account and only you are able to with withdrawn or move them. We will never ask for your Broker account log in details ever. We only need your MT4 trading account details so that we can link your account to the TradeCopier master account. Individual trading account log in credentials give us ZERO access to your personal funds.
What about a large unexpected market movement?
Our exposed risk is so small that even during large moves we are not reaching high DD. 300 pips the otherway and we are around 7% DD, so it’s totally within out risk settings to be able to deal with a 500 pip spike or market crash.
Ok what about the actual underlying myfxbook page….
Well it is here https://www.myfxbook.com/members/Benllay/tradehuntfx/3329055
What do you notice?
It is the VERY SAME red line and yellow line (we are told its an EA, the yellow line confirms its the very same underlying data) – but what is the glaring difference? – That huge line up on the ProphetFX chart.
What could it be I wonder?
Well again, the very helpful idiots of TradeHuntFX have left Myfxbook fully open.
Look what I can do…
Ok, but what is that huge line up on the Myfxbook graph though?
Well lets have a look at the underlying data on the TradeHuntFX for that date from Myfxbook….
Oh Fuck guys and gals what is that?????
That is TradehuntFX (ProphetFX) gaming MyFxbook results.
They are withdrawing and depositing to game the Myfxbook Growth graph.
They hit a win, leverage up then withdraw from the account to give the impression of huge gains.
Note aspects of Myfxbook are locked down on both ProphetFX and TradehuntFX so you cannot actually see what is going on?
Well as above – the TradehuntFX Myfxbook has elements left open. We can see in the excel sheet data that they are withdrawing and depositing to show huge gains.
In the case of Edward Elfords ProphetFX Myfxbook you can see this is how he has created a massive 426% gain from September 16th 2019 – September 20th 2019.
This is done by ramping up winning trades then withdrawing money from the account so it looks like you have had a massive win – clever huh? Yes, except when you are selling off the back of this.
This is fraud. Pure and simple.
It gets worse because we have already seen in the literature from ProphetFX, TradeHuntFX & FrontlineFX that this is risk averse and no major drawdown – so what do you also see in the data?
ACCOUNT BUSTING HUGE DRAWDOWN.
So there you go – Drawdown was so bad they had to fund the account.
Yet another dimension to the level of fraud committed by ProphetFX, TradeHuntFX & FrontlineFX.
This happens over and over and over. Withdraw / Deposit to game or cover blowups.
There are withdrawals & deposits over and over to make this look like they made huge gains – its all lies.
Not only are they on a 500:1 ratio account with IC Markets, they are even withdrawing and depositing on top of that – and even screwing that up.
Remember what it says above in their own literature?
- ” The maximum drawdown that has been recorded is 7.8%“
- ” Our exposed risk is so small that even during large moves we are not reaching high DD. 300 pips the otherway“
So reality is – ProphetFX/TradehuntFX/FrontlineFX is/are actually fucking shit at trading, not to mention a total scam.
So to recap;
1. The Myfxbook graph is lies by gaming the growth graph by withdrawing and depositing – the use of it as sales material is false advertising & committing fraud.
2. Hiding true trading results is false advertising & committing fraud.
This lot thought they were untouchable – their stupidity has exposed them for who they really are – fraudsters.
The above is irrefutable evidence that proves ProphetFX / TradehuntFX / FrontlineFX is a major UK retail forex trading scam ring.
- ProphetFX is Prophet Enterprise Limited listed as Lincoln/Sleaford, Lincolnshire UK
[HARWOOD, Jack Alexander]
[O’BRIEN, Connor Patrick]
- TradehuntFX is B & D ENTERPRISES Limited (formerly TradehuntFX Limited) – listed as Harrow/Ruislip, London UK
[MARCYNIUK, David Meron]
[NEWTON, Ben Walter]
- FrontlineFX is FrontlineFX Limited listed in Spilsby, Lincolnshire UK
[WILSON, Luke Robert]
Others mentioned as part of the scam ring;
- Jacob Steggar / Jacob Thomas Maher
- Nick Bull
- Reece Harley
- Ben Southall
- David of TradehuntFX (don’t have a last name)
- Gary of TradehuntFX (don’t have a last name)